Since I'm not huge into trading, I staked my PALcoins as soon I got them. When the delegation feature came out, I lent those stake to one of my alternate accounts. Since I held PAL, I was able to receive LEO airdrops.
So, that seemed like an example where "commitment" opened the doors to more benefits. In hindsight, if I had spent a bit of time to buy low after selling my initial drop, I would have had more stake. Alas, I am lazy, so I am stuck with what I have right now.
I have debated whether I wanted to sell for short-term gains like many other Steemians. Remember, Steem has value on exchanges. All the Steem Engine tokens, while great, are not guarantees. They are internal, centralized, tokens that may or may not hold value in the future.
But of course, they are the closest things we have to represent ``communities`` right now. It warms my heart that groups like PAL and LEO set out to moderate their own front ends. They are educating and protecting their turfs from potential bad actors. How long would that zeal last? Well, we shall see.
Back to staking PAL, I plan on keeping them powered up for the short and midterm. At some point, when I decide I have enough stake, I will start selling off portions of my rewards in PAL. Of course, I will still keep powering up to gain (or retain) influence. It's not much different to how I am handling my Steem stake at the moment.
To @cryptoandcoffee's original description, yes I do think staking can be a wise option. Especially when the tokens and communities are new. At the end of the day, it all depends on what each individual value. Some rather play the long game. Some rather have gains now.
If PALcoin were to fail tomorrow, I would feel bad, but I literally didn't spend any of my resources to obtain them. So, the upsides is still greater than the potential pitfall that could befall to all SE tokens.
Until then, here's a parody of Mastering Bitcoin:
Sold mine and my gfs. Made about 800 steem for what? 5 minutes of work. I wont complain even if pal moons.
Doesn't matter. Still gained!
I 100% staked
Nice!
i staked my pal coins
great article bud
Sold some, staked some, trading some.
Because: why not ;)
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I mean, they were free!
That's why I'm having fun with it :)
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Sold then bought PALMM then staked. :D
How's the ROI on the miners?
My current mining rate for 2 PALMM is 2.067/day ( 1.033 PAL/PALMM/day).
Breaking even should be around 215 days after the miner purchase, it's been 17 days since I started so around 200 days to break even. Well, it may take longer as people are still buying PALMM and PALM, competition should be higher as days go by.
Seems like it’ll be a while before the investment pays off.
Fingers crossed for you.
I'm Staking PAL, selling LEO but at a crazy prize. If it ever sells, then good :)
Cheers for the post
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Nobody has gone poor for taking a profit, right?
I made the decision to stake mine as well. It is kind of a hard decision because you are betting that they aren't going to eventually be worthless. Like you said though, you didn't spend anything on them, so who cares.
It's literally a risk-free investment.
Well, I suppose you'd lose time...
Now that's O'reilly book that I would read from beginning to end :D
I staked PAL in an owl-alt. I am not sure what to do with LEO. Generally, I have not been paying much attention to trading cryptos. I think I still have ballbytes stuck somewhere D:
Oh yeah the Byteballs. Yeah, I totally forgot about those.
I staked my PAL, but some some Leo to get more Steem. I just don't see me using their site much. There's also Sportstalk that I see some people really gong for. These multiple sites and tokens may be good for specialist interests, but palnet is general. It just works because so many people are using it.
That totally makes sense. I don’t think I will compose Steem Leo related content often, but I do read them.
So, it’s nice to be able to curate as I go. Most people will probably stick to the communities that interest them.
I just don't have time to be reading posts on multiple sites every day, so I won't make best use of the tokens. I may miss out on some profit, but it's all a gamble.
I just read everything on SteemPeak. They have a pretty good filter.
Keychain also makes it easier to hop between my different accounts for when I want to curate. So, the only times I would log into other front ends is to claim some curation rewards. lol
The issue is if you want to stake and vote with each token as that has to be done from the appropriate site as I understand it. I've seen at least one person set up multiple accounts so he doesn't use up his Steem vp doing this. For me the potential rewards do not justify the extra effort.
Nah, I don't log into the sites except for claiming rewards. I have some people on autovotes. As long as they have the tags, they get curated in those tokens.
However, if you vote on them before they put up appropriate tags, then it doesn't work.
I hadn't checked before how it all works, but I see the tokens are allocated wherever you vote from. So maybe I should stake my Leo too. All this stuff can be confusing, even for those who have been around a while. I don't keep up with all of the posts about how it works.
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